Eos Energy price target lowered to $3 from $7 at Evercore ISI

Evercore ISI lowered the firm’s price target on Eos Energy to $3 from $7 and keeps an Outperform rating on the shares. The “last few quarters have been bumpy as Eos navigated through transitions,” says the analyst, who believes the company is at an inflection point in the transition to the fully automated line and continues to expect positive gross margin at the end of this year.